Australian Stock Report - Market Pulse

Morning Market Analysis: October 10

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Publish date: Mon, 10 Oct 2011, 10:00 AM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.

International markets put in a mixed performance on Friday night, with modest gains in Europe balanced against small losses in the US.

In Europe, the FTSE added 12 points (+0.2%) to settle at 5303, whilst the CAC (+0.7%) and DAX (+0.5%) were slightly stronger.

Stateside the Dow shed 20 points (-0.2%), whilst the S&P lost 0.8% and the Nasdaq slipped 1.1%.

The move lower in the States snapped a three-session win streak for US stocks, with a mixed jobs reports and credit ratings cuts for Italy and Spain the catalysts for the weakness.

The euro weakened against the yen for the sixth straight week after Italy and Spain were downgraded and despite assurances from the ECB that it will aid regional banks.

Commodities were mixed, copper (+0.8%) and oil (+0.5%) were stronger, whilst gold slipped 1%.

Today's session will bring us data in the form of ANZ job advertisements, at 11:30am, AEST.

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